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Can You Explain What Is Meant By Corporate Image And Identity And Then Discuss The Reasons Why Branding Is Important To Organisations?
Corporate Image is actually the way in which a corporation is perceived in the minds of the public. It shows what a company stands for. On the other hand, Corporate Identity refers to the persona associated with a corporation. It helps in attainment of the business objectives.
A Brand is basically a collection of symbols, experiences and associations connected with a product,
a service, a person or an organization. Branding confirms the credibility of the business, connects the target prospects traditionally, motivates the buyer and concretes the loyalty of the users. Branding is very important for businesses. Corporate image and identity are ways of branding in a company.
Branding also represents the confidence and trust it has created in its customers , over the years.
A brand is also "promise" it makes.Corporate image is closely knitted with its brand name.As an instance take the ICICI bank-the corporate image this that of a credible private bank with good service.And this is what its brand name is also about.
While a corporate image may be quickly made with excellent infrastructure etc, the brand is build only over time, by continuous service to customers.
A brand is also "promise" it makes.Corporate image is closely knitted with its brand name.As an instance take the ICICI bank-the corporate image this that of a credible private bank with good service.And this is what its brand name is also about.
While a corporate image may be quickly made with excellent infrastructure etc, the brand is build only over time, by continuous service to customers.